Bajaj Capital Insurance Broking Ltd has announced the appointment of Venkatesh Naidu as its chief executive officer as part of its aim to drive its insuretech business.
Naidu has over 20 years of experience in working and building renowned insurance organizations in India like Exide Life Insurance, Bharti AXA Life Insurance and ICICI Prudential Life. In his last assignment, Venkatesh served as director of sales at Exide Life Insurance.
Rajiv Bajaj, chairman & MD, Bajaj Capital, said, “Insurance is a key part of financial planning and the focus on Total Wellbeing gives it a holistic approach towards risk management. We intend to make insurance more easily accessible to the retired & pre-retired segments also in addition to the youth. With his strong focus on delivering results, I am certain that Venkatesh will lead the business into newer heights”
Sanjiv Bajaj, joint chairman & MD, Bajaj Capital, said, “Bajaj Capital Insurance Broking has been a pioneer in helping protect millions of customers with right insurance products and delivered an Individual premium of 1400Crs+ last year. Now with Venkatesh leading the Insurance broking business, we aim to expand our network and reach more people across all customer segments in India. This is in line with the objective of making the offering available to all Indians across income segments. Bajaj Capital has started an aggressive Insurance Turbo Initiative and intends to post significant growth year on year for the next few years.”
Insurance Turbo initiative, which is about double its insurance business year on year, is a testimony to the fact that insurance broking has been one of the fastest-growing segments in the insurance industry, the company said.